Saqib Islam Sells 48,000 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the sale, the chief executive officer now owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX opened at $59.28 on Thursday. The business has a 50-day moving average of $38.35 and a two-hundred day moving average of $36.40. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s revenue was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.27) EPS. As a group, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several large investors have recently made changes to their positions in the business. Huntington National Bank lifted its holdings in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares in the last quarter. AlphaQuest LLC increased its holdings in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics in the fourth quarter valued at about $45,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after purchasing an additional 474 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares during the period.

Wall Street Analysts Forecast Growth

SWTX has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday. Evercore ISI raised their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and an average target price of $70.83.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.